Posted in Access to healthcare, Affordable Care Act (ObamaCare), Economic Issues, Federal Exchanges, Government Regulations, Health Insurance, Individual Mandate, Individual ObamaCare Market, Insurance subsidies, Medical Costs, News From Washington, News From Washington, DC & Related Shenanigans, Policy Issues, State-Run Insurance Exchanges, Subsidies, Tax Policy, Uncategorized, Uninsured

Dreaded Tax Season To Get Even Worse For Obamacare Insured

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By Grace-Marie Turner

H&R Block estimates that up to half of Americans who received subsidies for health insurance under the ACA last year will owe the IRS money.

An estimated 87% of those who signed up for health insurance on the new exchanges got subsidies to reduce their health insurance premiums and sometimes their cost-sharing expenses.  An assistant professor of health policy at Vanderbilt University, John Graves, calculates the average subsidy was $208 too high.

But these taxpayers face yet another cost.  Many of them are accustomed to filing the simple 1040EZ tax form.  No more.  Most will have to retain tax preparers to help them fill out the new Form 8962.  That could cost them several hundred dollars.

 

Read more via:  Dreaded Tax Season To Get Even Worse For Obamacare Insured.

Author:

A primary care physician by training, my passion is researching and writing about the importance restoring patient centered care, supporting independent private physicians, promoting free-market solutions and seeking sustainable fiscal policy in healthcare.

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